Provo, Utah

The Provo-Orem area is often overshadowed by its northern neighbor, Salt Lake City. It's a third of the size and doesn't have its own NBA team. But Provo actually raises more venture capital money for startups.

Entrepreneurs have found that Provo, like Boulder, provides top-notch resources paired with reasonable living expenses. Startups can also turn to research facilities at the Mormon Church-run Brigham Young University, which is gaining recognition for its support of student business ventures.

The strongest resource here is BoomStartup, an accelerator, which means it provides entrepreneurs guidance and network opportunities. The program was named one of the top 15 in the country last year by media website TechCocktail.